Eli Lilly & Co. - LLY STOCK NEWS

Eli Lilly and Company (NYSE: LLY) announced the appointment of Diogo Rau as the new senior vice-president and chief information and digital officer, effective May 17, 2021. Rau takes over from Aarti Shah, who is retiring after 27 years at Lilly. With a strong background at Apple and McKinsey, Rau is expected to enhance Lilly’s digital capabilities, focusing on data, analytics, and machine learning to improve patient experiences. CEO David A. Ricks praised Rau’s leadership potential in revolutionizing their technology strategy.

Eli Lilly and Company (NYSE: LLY) announced key changes to its purchase agreements with the U.S. government for COVID-19 treatments. The company will focus on supplying bamlanivimab and etesevimab together, terminating the agreement for bamlanivimab alone. This includes canceling 350,856 doses of bamlanivimab previously scheduled for delivery by March 2021. Both treatments remain authorized under Emergency Use Authorization, but their efficacy and safety in COVID-19 management continue to be evaluated.

Eli Lilly (NYSE: LLY) has unveiled promising Phase 1/2 LIBRETTO-001 trial data for Retevmo (selpercatinib), showing significant antitumor activity against RET fusion-positive advanced solid tumors beyond lung and thyroid cancers, especially in challenging gastrointestinal malignancies. Presenting at the AACR Annual Meeting 2021, the trial involved 32 patients, revealing a 47% objective response rate with 73% of responders maintaining ongoing results. Safety profiles aligned with prior data, with no treatment discontinuations due to adverse events. Lilly aims to discuss these findings with regulatory authorities.

Eli Lilly and Incyte reported on April 8, 2021, that the COV-BARRIER Phase 3 trial of baricitinib did not meet its primary endpoint of reducing mechanical ventilation or death by Day 28. Baricitinib showed a 2.7% lesser progression risk compared to placebo, which was not statistically significant. However, a significant 38% reduction in all-cause mortality was noted among baricitinib patients. The trial included 1,525 participants across various countries. Lilly plans to publish detailed findings and share them with regulatory authorities for further validation of baricitinib's efficacy in treating COVID-19.

Eli Lilly and Incyte announced that the FDA has extended the review period for the supplemental New Drug Application for baricitinib, intended for treating adults with moderate to severe atopic dermatitis. The new PDUFA action date is set for early Q3 2021, allowing further review of data analyses submitted by Lilly. Despite this delay, Lilly's financial guidance for 2021 remains unchanged. Baricitinib, an oral JAK inhibitor, is also being researched for other conditions, including COVID-19 and rheumatoid arthritis.

Eli Lilly and Company (NYSE: LLY) will announce its first-quarter 2021 financial results on April 27, 2021. A conference call is scheduled for 9 a.m. Eastern time on the same day to discuss financial performance with investors and the media. Interested parties can access a live webcast through Lilly's investor website, with a replay available afterward. Lilly remains committed to its mission of improving lives through high-quality medicines and community involvement.

Eli Lilly, Vir Biotechnology, and GlaxoSmithKline announced promising topline results from the Phase 2 BLAZE-4 trial, showing that the combination of bamlanivimab and VIR-7831 significantly reduced high viral loads in low-risk COVID-19 patients by 70% at day 7 compared to placebo. No related hospitalizations or deaths occurred by day 29. Preclinical data suggest the combination can combat resistant SARS-CoV-2 variants. An Emergency Use Authorization application for VIR-7831 has been submitted to the FDA, aiming to expedite its availability for COVID-19 treatment.